If you are one of the thousands of people across the country trying to keep pace with your mortgage payment and are ready to throw in the towel.   DON'T THROW IT IN YET!  

Call your mortgage lender or bank.  Talk to them about your problems and see if they will work with you.  If your home is like Metro Detroit Real Estate you may have trouble trying to refinance.  Many Metro Detroit homes have lost 20- 40% of their value in the last few years.  Some areas in California and other states are the same way.

SOME BANKS ARE WILLING TO WORK WITH YOU

• BE NICE (they are just doing their job too)(they are somebodies wife or mother)
• ASK THEM TO FIX THE RATE
• ASK THEM TO LOWER THE RATE
• ASK THEM FOR A MORTGAGE REDUCTION
• BE FORCEFUL, keep asking!
• TELL THEM THE TRUTH
• IF YOU ARE GOING TO HAVE TO GIVE THE HOUSE UP AND GO INTO FORECLOSURE, TELL THEM SO (they will be more inclined to work with you than get the house back.

Some banks and lenders are working with people to lower the rates and keep the families in the home.  I tell you this because I got the best call a person can get.  A simple thank you .  I told my client to do this when we went through the scenario and found out the house would not appraise for what they owe on it.  They wanted to stay in the house.  They just could not afford the new adjustable rate.   It worked the bank fixed the rate at the intitial rate.  My clients can now afford to stay in the house.

Many people took adjustable rate mortgages because they could not afford the house at the higher fixed rate.  It was a choice they made that is coming back to haunt them, but try to talk to your lender.  If that doesn't work try calling the National Mortgage Helpline.  Try to save your house first if you can.

Here are two numbers to call if talking to your bank doesn't work.

NATIONWIDE     888-995-HOPE

MICHIGAN         866-946-7432

For more on Michigan mortgages go to my websites www.RussRavary.com or www.DetroitMichiganRealEstatehomes.com  lots of great information on Michigan real estate, Michigan mortgages, and you are able to search Michigan homes for sale free.